In today’s InternetRetailing newsletter, we’re reporting as the economic clouds continue to gather – and what that might mean for retailers selling online.
Forecasts suggest shoppers will be keen to buy at a discount while avoiding delivery issues this Black Friday. Rising inflation, now running at 11.1%, is expected to encourage shoppers to buy while discounts are available. Higher footfall in-store, and especially in shopping centres, is predicted. There are warnings, in today’s Peak 2022 round-up, that online shoppers may need reassuring about their deliveries.
The update comes as the latest ONS retail sales figures, for October, suggest that shoppers spent less online but more across sales channels in October. Buyers, it seems, opted for secondhand goods and clothing over furniture. At the same time, however, the proportion of sales taking place online stayed relatively steady at 26.1%.
We’re also reporting on how the autumn statement will affect online retailers. Most notable for ecommerce is that there will not now be an online sales tax, in the light of the fact that higher business rate valuations will now be placed on large distribution warehouses – something that is set to mean owners of those warehouses will pay 27% more in business rates from April.
We also report as Burberry reports strong half-year figures and says it’s planning on doubling its ecommerce business while continuing to upgrade its stores as it targets £4bn in medium-term revenues.
And we have the news that Yoti is working with THG Ingenuity, enabling brands selling through the platform to check customers’ ages before selling age-restricted goods.
In today’s guest comment, Stefan Spendrup of SOTI considers approaches to hybrid retail
